Denarius Metals Corp. (Cboe CA: DMET; OTCQX: DNRSF) reported on August 21, 2026 that it has closed two linked transactions announced earlier this month. This is genuinely two separate deals that closed on the same day, worth keeping apart: one is Denarius buying a stake in a different company’s copper project, and the other is how Denarius paid for it.
Deal One: Denarius Buys Into Copper Giant
Denarius subscribed for 40,000,000 common shares of Copper Giant Resources Corp. (TSXV: CGNT; OTCQB: LBCMF; FRA: 29H0) at CA$0.72 per share, a total investment of CA$28.8 million, through Copper Giant’s own private placement financing. That gives Denarius an approximately 15.34% equity interest in Copper Giant, and Denarius CEO Federico Restrepo-Solano has joined Copper Giant’s advisory board. Copper Giant, part of the Canadian Fiore Group, is focused on the Mocoa copper-molybdenum deposit in southern Colombia, which the companies describe as one of the largest undeveloped deposits of its kind in the Americas, with recent exploration suggesting the mineralized area may extend well beyond its originally defined footprint.
Deal Two: Trafigura Funds the Investment
To help pay for that stake, Denarius closed a concurrent private placement with Urion Investments Holdings Limited, a Malta-based subsidiary acting on behalf of Trafigura Group, a large global commodities trading company. Trafigura, through Urion, acquired 67,000,000 common shares of Denarius plus 12,500,000 warrants (each exercisable for one additional Denarius share at CA$0.60 until August 2029) for CA$28.81 million, proceeds Denarius says funded the Copper Giant investment. The shares and warrants are subject to a standard four-month resale hold period under Canadian securities rules.
Because this pushed Trafigura’s overall stake in Denarius above 10%, Canadian securities law requires Trafigura to file a formal early warning report disclosing the change. Before this transaction, Trafigura held about 1.73% of Denarius’s shares outstanding (roughly 3.21% assuming exercise of warrants it already held); afterward, Trafigura holds approximately 14.79% of Denarius’s outstanding shares, or about 17.92% on a partially diluted basis assuming full exercise of all its warrants. Denarius said Trafigura has indicated the shares are held for investment purposes, though Trafigura retains the ability to increase or decrease its position going forward.
Company Backgrounds
Denarius Metals is a Canadian junior focused on precious metals and polymetallic projects in Colombia and Spain. In Colombia, it’s in early production at its Zancudo gold-silver project while building a 1,000-tonne-per-day processing plant targeted to begin producing concentrate in the fourth quarter of 2026. In Spain, its holdings include a 21.8% interest in the Aguablanca nickel-copper project, recognized by the European Union as a Strategic Project, plus wholly owned polymetallic and zinc-lead-silver projects. Trafigura is one of the world’s largest commodities trading firms, managing supply chains for metals and energy globally; a strategic equity stake from a trading house like Trafigura can signal interest in eventually marketing or offtaking a company’s future production, though this release does not disclose any such arrangement.
Sources
Editorial Disclosure
This article is based on a press release issued by Denarius Metals Corp. on August 21, 2026, distributed via PRNewswire. Securities discussed: Denarius Metals Corp. (Cboe CA: DMET; OTCQX: DNRSF) and Copper Giant Resources Corp. (TSXV: CGNT; OTCQB: LBCMF; FRA: 29H0). Trafigura Group, referenced extensively in this article as an investor in Denarius Metals, is a privately held company and not itself publicly traded. Mining Markets Report has not received compensation from Denarius Metals, Copper Giant Resources, Trafigura, or any third party for this coverage. No staff member or principal of Mining Markets Report holds a position in any security mentioned in this article. Trafigura’s ownership stake in Denarius Metals crossed the 10% threshold requiring an early warning report under Canadian securities law (National Instrument 62-104 and National Instrument 62-103); such a filing indicates a significant ownership change but is not itself an indication of any take-over intention, and Denarius has stated Trafigura has represented the securities are held for investment purposes. Statements regarding future project development at Mocoa, Zancudo plant commissioning, and any strategic relationship arising from Trafigura’s investment are forward-looking and involve known and unknown risks; actual results may differ materially. References to these companies are for market context and analytical purposes only and do not constitute an investment recommendation. All securities carry investment risk including possible loss of capital. Coverage on Mining Markets Report is for informational and educational purposes only; Mining Markets Report is not a registered investment advisor. Readers should conduct their own due diligence and consult a qualified financial advisor before making investment decisions.
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